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Gold traded near unchanged in Asia before dropping a bit in London, but it opened up in New York just slightly lower before dropping sharply following trade deficit data that sent the dollar higher.  Gold fell to about $542 in late morning New York trade, but it then rallied into the close and ended near its highs of the session with only a slight loss to close just 90 cents from its 24 and ½ year closing high set on Monday.  Silver followed a similar pattern and closed 22 cents from its 18 and ½ year closing high set on Monday.

Gold and silver equities started off the day nearly 2% lower before rising to near unchanged by early afternoon, but they then fell back off and closed just off their lows of the session.

Euro gold fell back under €450, platinum gained $3 to $1,009 to match its 25 year closing high set one month ago, palladium lost $2 to $268, copper fell a bit further from all-time highs near $2.15, and the CRB Index lost 1.00 to 334.71 to fall further from its 25 year high of 339.47 set last Friday.

More Precious Metals Analysis:

“The precious metals markets came under light early pressure and then fell more aggressively into the US Trade Deficit released. We are not sure if the metals fell because the Dollar managed to rise off the number or if some gold longs decided to exit longs because of the lower uncertainty off the US Trade Deficit situation. It is also possible that the Dollar was seeing flight to quality buying off the increased Middle East tensions (Iran and the UN) and that simply overwhelmed the typical flight to quality benefit that gold usually sees off tensions in the Middle East.” - The Hightower Report, Futures Analysis and Forecasting

The U.S. dollar index gained on the trade deficit that was not as high as expected and also on a decision by the ECB to not raise interest rates in Europe.  The decision to not raise rates in Europe was expected, but it was comments from ECB President Trichet that indicated to most that future hikes in Europe may not be as probable or aggressive as previously believed.

Oil traded mostly higher and climbed over $65 at one point over continued worries about Iran, but it did fall off into the close to end unchanged on the day.

Treasuries gained on news of record corporate securities on the market.  The 10-year TIPS auction was successful but did not have a big impact on trade.

The Dow, Nasdaq, and S&P fell throughout trade on downgrades and disappointing earnings.

Among the big names making news in the market today were Oracle, Mohawk, J&J, Boston Scientific and Guidant, Borders, Tenet Healthcare, RadioShack, Home Depot, Viisage and Identix, and Siebel.

Gold & Silver Stock News Update from GoldReview.com:

Bolivar Gold’s shareholder approval of Gold Fields’ offer, Claude Resources’ 70% increase in gold production in the 4^th quarter, Richmont’s reported drilling results with Patricia Mining on the Island Gold Deposit, Canyon Resources results of a prefeasibility stud at its Reward project, and Gold Fields completed purchase of the Cerro Corona project in Peru were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

All of today's gold and silver stock news:

Claude Resources Inc. gold production up 70% in fourth quarter - "Claude Resources Inc. is pleased to announce that 2005 fourth quarter gold production at its Seabee mine in Saskatchewan, Canada improved by 70% from 8,900 ounces in the third quarter of 2005 to 15,100 ounces this period. This also represents a 15% increase over the previous five-year average of fourth quarter gold production. As expected, this fourth quarter production improvement resulted from increases in productivity, grade and mill throughput." More
- January 12, 2006 | Item | E-mail

Goldrea Resources Corp. - Potential purchase of operating Daye Gold Mine - China - More

Almaden Minerals Ltd.: Drilling Confirms Fuego Vein System, Mexico and will Recommence in January 2006 - More
- January 12, 2006 | Item | E-mail

Patricia Mining Corp. and Richmont Mines Inc. Reports on the 2005 Drilling Results on the Island Gold Deposit - "This release reports results from underground definition drilling on the various veins systems. Only the intercepts that are within potential mining blocks that show continuity are included. Highlights in the tables below include numerous high grade intercepts from the sub-parallel C, D, D1, E and E1 zones." More
- January 12, 2006 | Item | E-mail

Canadian Royalties Inc.: High Nickel-Copper-Platinum-Palladium Assays from the Ivakkak Discovery Zone and the Mequillon Deposit - More
- January 12, 2006 | Item | E-mail

Serengeti Appoints New Director - More
- January 12, 2006 | Item | E-mail

Gateway Gold Corp.: Widespread Gold Mineralization Found in Brien's Structure at Big Springs - More
- January 12, 2006 | Item | E-mail

AfriOre Reports Earnings For The Six Months Ended November 30, 2005 - More
- January 12, 2006 | Item | E-mail

Bolivar shareholders back Gold Fields takeover - "Shareholders of Bolivar Gold Corp. voted on Thursday in favor of the company being taken over by South Africa's Gold Fields Ltd. despite a vigorous attempt by its major shareholder to thwart the $360 million deal. In a deal that needed a two-thirds "yes" vote to succeed, 76.6 percent of the common shares cast supported Gold Fields' C$3.20 a share offer." More
- January 12, 2006 | Item | E-mail

Canyon Resources Provides Results of Prefeasibility Study at Its Reward Project - "Canyon Resources Corporation, a Colorado-based mining company is pleased to announce that Chlumsky, Armbrust & Meyer (CAM), a mining engineering consulting firm based in Lakewood, Colorado, has completed a pre-feasibility study for Canyon's Reward Project located near Beatty, Nevada. The study projects strong economic feasibility based on a $425 gold price, $7.6 million in new capital expenditures, transfer of mobile equipment from the Briggs Mine, and contract crushing." More
- January 12, 2006 | Item | E-mail

Halo Airborne Geophysics Survey Generates New Targets at Duport - More
- January 12, 2006 | Item | E-mail

Abacus Hits Another 358 Metres of Copper-Gold Mineralization Below Ajax Pit - More
- January 12, 2006 | Item | E-mail

Klondike Star Intersects 1.91 g/t Gold Over 15.7 Metres - More
- January 12, 2006 | Item | E-mail

Bolivar Shareholders Approve Gold Fields Offer - "Gold Fields Limited is pleased to announce that share- and warrant holders of Bolivar Gold Corp. today voted overwhelmingly in favour of the plan of arrangement through which Gold Fields proposes to acquire Bolivar. 76.7% of shares and 82.1% of warrants "present and voting" at the meeting were voted in favour of the transaction. 96.1% of all outstanding shares and 81.0 % of all outstanding warrants were represented at the meeting." More
- January 12, 2006 | Item | E-mail

Bolivar Shareholders Approve Gold Fields Offer - "Gold Fields Limited is pleased to announce that share- and warrant holders of Bolivar Gold Corp. today voted overwhelmingly in favour of the plan of arrangement through which Gold Fields proposes to acquire Bolivar. 76.7% of shares and 82.1% of warrants "present and voting" at the meeting were voted in favour of the transaction. 96.1% of all outstanding shares and 81.0 % of all outstanding warrants were represented at the meeting." More
- January 12, 2006 | Item | E-mail

Bolivar shareholders back Gold Fields takeover - Breaking... More
- January 12, 2006 | Item | E-mail

Freeport welcomes new Director and Officer - More
- January 12, 2006 | Item | E-mail

Oro Gold Advances Cimarron Property; Expands Land Position in Sinaloa, Mexico - More
- January 12, 2006 | Item | E-mail

New Gold Inc.: New Afton Project Additional Infill Drilling Results - More
- January 12, 2006 | Item | E-mail

GoldQuest Defines Volcanic-Hosted Massive Sulfide District In Western Dominican Republic - More
- January 12, 2006 | Item | E-mail

Verena Signs A Joint Venture Agreement On The Uberaba River Diamond Project - More
- January 12, 2006 | Item | E-mail

Randsburg announces deep core drilling for diamonds to begin next week at Victory Strike, Brazil - More
- January 12, 2006 | Item | E-mail

Radius Reviews 2005 Exploration Results and Looks Forward to 2006 - More
- January 12, 2006 | Item | E-mail

Pelangio resumes winter drill program at Detour Lake - More
- January 12, 2006 | Item | E-mail

Maxy Gold Corp.: Initial Drill Report on the Luchun Project, Niujaozhai Copper Target Extended - More
- January 12, 2006 | Item | E-mail

Trend Mining Announces Andacollo Permits, Preparation for Mining - More
- January 12, 2006 | Item | E-mail

International Star, Inc. and Resolve Capital Funding Corp., Inc. Enter Into a Joint Venture Agreement on Detrital Wash Property - More
- January 12, 2006 | Item | E-mail

Halo Airborne Geophysics Survey Generates New Targets at Duport - More
- January 12, 2006 | Item | E-mail

Farallon Announces Further Drill Results for G-9 - More
- January 12, 2006 | Item | E-mail

Apogee Intersects Encouraging Silver-Zinc and Gold Mineralization at La Solucion Mine - More
- January 12, 2006 | Item | E-mail

Anatolia Minerals Development Limited: Good Metallurgy At Rio Tinto-Anatolia Kizilviran - More
- January 12, 2006 | Item | E-mail

Continuum Announces Exploration Plans in Mexico and Northern Ontario for 2006 - More
- January 12, 2006 | Item | E-mail

Gold Fields Completes Purchase of Cerro Corona Project in Peru - "Completion of this acquisition means that Gold Fields now owns 92% of the voting interest (80.7% of the economic interest) in Sociedad Minera La Cima SA, which owns the Cerro Corona Project and other mineral properties in the Cajamarca district. Construction of the Project is expected to commence in February 2006, leading to first production towards the end of calendar 2007." More
- January 12, 2006 | Item | E-mail

Gold Fields Completes Purchase of Cerro Corona Project in Peru - "Completion of this acquisition means that Gold Fields now owns 92% of the voting interest (80.7% of the economic interest) in Sociedad Minera La Cima SA, which owns the Cerro Corona Project and other mineral properties in the Cajamarca district. Construction of the Project is expected to commence in February 2006, leading to first production towards the end of calendar 2007." More
- January 12, 2006 | Item | E-mail

Samex Mining Corp.: 'INCA Project'-New Copper-Gold Opportunity in Chile - More
- January 12, 2006 | Item | E-mail

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- Written by Chris Mullen

Winners & Losers tracks NYSE and AMEX listed stocks that trade over $1.

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